Western Wealth Capital Acquires Heather Ridge Apartments Homes in Arlington, Texas
November 23, 2021
Western Wealth Capital Acquires Heather Ridge Apartments Homes in Arlington, Texas
North Vancouver, Canada (November 23rd, 2021) – Western Wealth Capital (WWC) announces the closing of its 112th multifamily real estate acquisition – Heather Ridge Apartment Homes in Arlington, Texas. This is Western Wealth Capital’s 16th multifamily acquisition in the Dallas-Fort Worth (DFW) market.
WWC and its investment partners closed on the 262-unit multifamily apartment community of Heather Ridge Apartment Homes, originally constructed in 1983. This Dallas-area deal further solidifies WWC’s footprint in the U.S. multifamily housing market and follows WWC’s disciplined investment criteria.
McKesson and Charles Schwab, two major U.S. employers, have recently relocated their headquarters to the DFW area employing over 8,000 people. Several large defense companies in this submarket, including Lockheed Martin and Airbus Helicopters, have received millions in funding from the government for national security.
This property is a prime candidate for WWC’s repeatable value-add program, including exterior and interior renovations, most units have washer/dryer connections ready to be activated with machines.
“With multifamily sales breaking records in the industry this past quarter, we are thrilled to have acquired Heather Ridge for its value-add potential,” says Jay O’Connor WWC’s Senior Director of Acquisitions at WWC. “With almost all unit interiors in ‘classic condition’ and amenities that have not been upgraded recently, we are projecting a significant increase in value for investors in this property.”
WWC has acquired 112 multifamily rental buildings, representing $2.9 billion in acquisitions. The company’s current portfolio of assets under management includes 60 multifamily rental buildings totalling more than 15,000 units.
About Western Wealth Capital
WWC has developed a proven system for investing in multifamily properties in key real estate markets across the U.S. WWC offers investment partners the opportunity to invest in properties with substantial value-add opportunities. Since its inception, WWC has successfully completed more than $4 billion in real estate transactions representing more than 25,000 total units.
WWC’s vision is to build wealth for their investment partners with industry-leading returns. A people-first approach promotes excellence at every point; with highly efficient operations and a true commitment to our communities.
Contact Us
Media and photo requests:
Alex Collins
alex@westernwealthcapital.com
For more information:
604.260.4789
info@westernwealthcapital.com
www.westernwealthcapital.com
No securities commission or similar regulatory authority has reviewed this content. In considering the prior performance information contained herein, prospective investors should bear in mind that past performance is not necessarily indicative of future results, and there can be no assurance that Western Wealth Capital will achieve comparable results. This press release includes forward-looking statements. All statements other than statements of historical facts included in this document, including, without limitation, statements regarding the future financial position, targeted or projected investment returns and business strategy are forward-looking statements. In addition, forward-looking statements generally can be identified by the use of forward-looking terminology such as “may,” “will,” “expect,” “intend,” “forecasted,” “projected,” “estimate,” “anticipate,” “believe,” or “continue” or the negative usages thereof or variations thereon or similar terms. Forward-looking statements reflect our current expectations and assumptions as of the date of the statements, and are subject to a number of known and unknown risks, uncertainties and other factors, many of which are beyond our control, which may cause actual results, performance or achievements to be materially different from any anticipated future results, performance or achievements expressed or implied by the forward-looking statements. Although we believe that the assumptions on which the forward-looking statements are made are reasonable, based on the information available to it on the date such statements were made, no assurances can be given as to whether these assumptions will prove to be correct. Accordingly, readers should not place undue reliance on forward-looking statements. The forward-looking statements contained are expressly qualified in their entirety by this cautionary statement. No representation or warranty is made to the accuracy or completeness of any of the information contained herein.
